Business News

Tesla, Musk face criminal probe over go-private statements: Bloomberg

(Reuters) - Tesla Inc (TSLA.O) and its Chief Executive Elon Musk are under criminal investigation by the U.S. Department of Justice over public statements about taking the electric carmaker private, Bloomberg reported on Tuesday. Tesla did not immediately respond to a request for comment, while DoJ declined to comment. Federal prosecutors opened a fraud investigation, the report said, citing two people familiar with ...

18 Sep 4:44 PM 0 Read More...

Wall Street rises as blow from new tariffs less than feared

(Reuters) - U.S. stocks rose on Tuesday, led by gains in Apple and Amazon, as investors judged the latest tit-for-tat tariffs between the United States and China as less damaging than expected. The Trump administration’s selection of a lower 10 percent tariff and exclusion of Apple from the list of new tariffs convinced market players that it was going easy and giving U.S. companies enough time to prepare for a cha...

18 Sep 4:44 PM 0 Read More...

Exclusive: Nestle, Unilever, Coke make bids in $4 billion-plus GSK India sale - sources

LONDON (Reuters) - Nestle (NESN.S), Unilever (ULVR.L) (UNc.AS) and Coca-Cola (KO.N) are among bidders for GlaxoSmithKline’s (GSK.L) Indian Horlicks nutrition business, expected to fetch more than $4 billion, four people familiar with the matter said. Initial bids were due on Monday and the three consumer goods giants are seen as frontrunners for a business that offers a significant footprint in a fast-growing e...

18 Sep 4:44 PM 0 Read More...

Exclusive: Qualcomm prepares to add new board directors - sources

(Reuters) - Qualcomm Inc is preparing to add at least two new directors to its board, people familiar with the matter told Reuters, as the U.S. smartphone chip maker looks to appease shareholders who withheld voting support for its board last March. Qualcomm has been forced to defend its track record this year after upsetting some investors by rebuffing a $120 billion takeover bid from rival Broadcom Inc, failing to ...

18 Sep 4:44 PM 0 Read More...

Apple's new iPhones a slight notch above the X: reviewers

(Reuters) - The absence of a striking new feature left major tech blogs and newspapers lukewarm on the new XS range of Apple Inc’s (AAPL.O) iPhones in the first batch of reviews on Tuesday, although most praised the improvements to a wide range of standard features. The new iPhones have subtle additions to last year’s reimagined iPhone X, the tenth anniversary phone, and do not look very different aside from the ...

18 Sep 4:44 PM 0 Read More...

Ryanair aims for union agreement in Germany before Christmas

COLOGNE, Germany (Reuters) - Budget airline Ryanair (RYA.I) hopes to find an agreement with German unions before Christmas, Chief Marketing Officer Kenny Jacobs said on Tuesday, after pilots and cabin crew staged a full-day walkout this month and threatened further strikes. Ryanair’s cost position would be significantly more attractive than that of rivals even if Europe’s biggest low-cost carrier struck deals wit...

18 Sep 11:39 AM 0 Read More...

Visa, Mastercard reach $6.2 billion settlement over card-swipe fees

(Reuters) - Visa Inc (V.N), Mastercard Inc (MA.N), and a number of banks on Tuesday agreed to pay $6.2 billion to settle a long-running lawsuit brought by merchants over the fees they pay when they accept card payments. The card issuers named in the class-action lawsuit include JPMorgan Chase & Co (JPM.N), Citigroup (C.N) and Bank of America (BAC.N). Mastercard will pay an additional $108 million from funds set ...

18 Sep 11:39 AM 0 Read More...

China says Trump forces its hand, will retaliate against new U.S. tariffs

BEIJING/WASHINGTON (Reuters) - China said on Tuesday that it has no choice but to retaliate against new U.S. trade tariffs, raising the risk that President Donald Trump could soon impose duties on virtually all of the Chinese goods that America buys. The commerce ministry’s statement came hours after Trump said he was imposing 10 percent tariffs on about $200 billion worth of imports from China, and threatened duti...

18 Sep 11:39 AM 0 Read More...

U.S.'s Ross says China must decide on trade talks: CNBC

WASHINGTON (Reuters) - It is up to Beijing to take the next steps on trade talks, U.S. Commerce Secretary Wilbur Ross said on Tuesday as China vowed to retaliate after U.S. President Donald Trump imposed initial duties on $200 billion worth of Chinese goods. “Our purpose is to have constructive negotiations with the Chinese to resolve the fundamental issues. So the question about whether or when to have a discussio...

18 Sep 11:39 AM 0 Read More...

Trump hits China with fresh tariffs, threatens more if Beijing retaliates

WASHINGTON/TIANJIN (Reuters) - U.S. President Donald Trump escalated his trade war with Beijing, imposing 10 percent tariffs on about $200 billion worth of imports in a move one senior Chinese regulator said “poisoned” the atmosphere for negotiations. Trump also warned in a statement on Monday that if China takes retaliatory action against U.S. farmers or industries, “we will immediately pursue phase three, whi...

18 Sep 6:34 AM 0 Read More...